January 22, 2021
WIRELINE, Inc. has been cooperating with an inquiry by the staff of the
United States Securities and Exchange Commission.
The company has made an offer of settlement that neither
admits nor denies the conclusions of this investigation.
In the offer of settlement, WIRELINE, Inc. offered, among other things,
its payment to the SEC of $650,000 for the creation of a Fair Fund pursuant to Section 308(a)
of the Sarbanes Oxley Act of 2002, and agrees not to distribute Wireline (WRL) tokens to SAFT purchasers.
The Commission has accepted that offer of settlement. A copy of that order may be seen here. The SEC will later appoint a Fund Administrator to develop and oversee a plan of distribution for the Fair Fund.